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It’s a buyer’s market. It’s a seller’s market. You’ve probably heard these terms before. But what do they really mean when you’re considering buying or selling a home?

A buyer’s market exists when the supply of homes in a particular market exceeds the demand. Since there are more homes for sale, and fewer buyers, homes tend to stay on the market longer and prices may drop.

As a home shopper, you would have more time to look for a home, and more negotiating leverage.

In a seller’s market, by contrast, there are more buyers looking around than there are homes for sale. This would be an advantage when selling a home because the demand would likely cause the home to sell more quickly and for a better price.

As a home shopper, however, you would have to make decisions more quickly, since others may be interested in the same properties.

As you can see, each market has its pros and cons – for both buyers and sellers.

Luckily, a Realtor® who understands your local market can help you navigate through either market condition and help get you into your next dream home.

You’ve spent a couple of weekends viewing homes. You’ve found a few that you like, but none were quite “it”. Then, finally, you visit a property that seems perfect for you. It has most of the features you’re looking for in a new home. You quickly fall in love with it.

But it’s not yours yet. You have to make an offer. The amount you offer will play a huge role in whether or not you get the home, and the price you’ll pay.

At this point, you might be tempted to put in a really low offer in the hopes that you’ll get a bargain.

But that’s usually not a good idea.

First, the seller (working with his or her REALTOR®) probably knows the current market value of the property. So your low-ball offer will not make a good impression.

Second, there might be another offer that comes in at the same time — one that’s closer to the listing price — and you might risk losing your chance to buy the property. So be cautious with the low-ball game. Chances are, you’ll lose.

There are lots of variables that come into play when determining the value of a property. You will want to make sure that you are well educated on the process. A good REALTOR® can help you make the right offer for the property you’re interested in purchasing. Call today.

Say you’re shopping for a new home. Your goal is to find the ideal property, in a neighborhood that is just right for you, within a price range that you can afford.

What do you need — at minimum — to get started?

If you’re looking for ways to get your ducks in a row, here are some suggestions:

A property wish list. What does your ideal home look like? How many bedrooms does it need to have? Do you require a spacious recreational room? A large deck? A pool? A nice view? Get your wish list down on paper.

A neighborhood wish list. Where you live is just as important as what you live in. What qualities are you looking for in a neighborhood? A nearby park? Walking distance to a good school? Hiking trails? A shorter drive to work? Write it down.

A pre-approved mortgage. Getting the financing handled up front takes the guesswork out of what you can afford. Home sellers will also take any offers you make more seriously.

Realistic expectations. 99.9% of homes sell at or near the current market rates. So don’t expect to find a bargain that no one else has noticed. Your REALTOR® can help you understand which homes, in which neighborhoods, are available within your price range.

A great REALTOR®. Choosing the right real estate professional is crucial to making your home shopping experience less stressful and more productive. It also dramatically increases your chances of finding a home that fits your needs and budget.

Looking for more advice on finding your next dream home? Call today! I'd love to help!

Looking for that special place that offers privacy, comfort and stunning views? This could be the new home you're searching for. Minutes from town, it offers ridge top views with almost 4 acres of privacy and a lovely, comfortable brick home. Click on the photo to take a look and see if this is where your search ends.

There’s an old expression: Don’t make a mountain out of a molehill. It refers, of course, to putting a problem or issue in the right perspective. Some things just aren’t worth worrying that much about – the molehills. However, there are other things that you do need to be concerned about – the mountains.

What does all this have to do with buying a home?

It’s difficult to find a property on the market that is absolutely perfect and has no issues what-so-ever. Even if you find a home that you fall in love with and that meets all your requirements, there are bound to be one or two areas of concern. That’s normal.

The trick is to determine whether a particular concern is a mountain or a molehill. For example, say you want a home with four bedrooms, but find one with three. That may seem like a big problem. But if you look closer, you may find that one of the rooms in the finished basement can easily be converted into a comfortable spare bedroom.

That particular issue is really a molehill, and shouldn’t prevent you from putting that home on your shortlist.

On the other hand, say you want a home in a nice neighborhood with local parks for your kids and a sidewalk out front. If a property you’re considering doesn’t have those features, you might not think it’s a serious issue. But consider how difficult it will be to take young kids for a walk and decide where you think they’ll play. You may actually have a mountain in front of you.

So, when shopping for a home, you need to understand which are minor issues that can be easily dealt with, and which are major issues that will seriously impact your enjoyment of the home.

Here's a question for you... If you could save someone's life, would you do it? Would you run into a burning building? Jump into a river? Pull someone off of the subway tracks? What if you could do it without all of the drama? It is no less heroic to do something a bit simpler. Every 4 minutes someone in the US is diagnosed with a blood disease. You can save potentially someone's life by becoming part of the National Marrow Donor Program.

The husband of one of my colleagues has recently been diagnosed with Acute Myeloid Leukemia (AML). My company is coordinating a local drive to enroll donors. Please help us by participating in the “Be the Match for Greg”. It is very simple to register and only takes minutes of your time! We are asking everyone, please, take a few minutes of your day and register to become a donor on the Be the Match Registry operated by the National Marrow Donor Program. The drive is Friday, April, 11th and Saturday, April 12th from 10:00 a.m. – 4:00 p.m. at War Memorial Stadium -Westside, Little Rock, Arkansas.

If you are between the ages of 18 and 60 (especially 18-44), are generally healthy, and are willing to donate to anyone in need, we are asking you to join the registry. Even if you are already registered or do not meet the criteria, there is a significant need to raise funds for this organization and the life saving work that they do. It costs the National Marrow Donor Program approximately $100 to register each person. Funds raised will go to Be The Match in honor of “Be the Match for Greg” to help offset those costs. It is our wish that every patient who needs this lifesaving therapy receive it. That can only be accomplished with help from all of us.

So, here we are... already into February! It's cold and gray outside now, but Spring is on its way! And this is historically the time of year when the real estate market begins to heat up! According to Greg Ramer, a lender here with Iberia Mortgage, there are some things that buyers and sellers will want to know regarding loan approvals and interest rates this Spring. The news is generally good. Have a look:

"January 2014 brought about the latest installation of changes enacted by the Dodd-Frank Wall Street Reform and Consumer Protection Act. While it’s likely that these latest changes could cause some marginal borrowers a loan approval, my opinion is such that the greatest impact will be felt by mortgage banks themselves through enhancements to back end processes that borrowers never see or are impacted by. The majority of this discussion has focused on the 43% maximum debt to income ratio, however, we continue to be able to approve loans above this figure. What further adjustments are made in the future is up for debate. But for now, it appears to be business as usual, however that is best defined nowadays!

The Mortgage Bankers Association issued its 18 month projections for the real estate industry. According to the MBA, over the next 18 months, we can expect to see steady gains in housing starts, existing and new home sales, home valuations and, lastly, interest rates. That’s right, interest rates are projected to steadily be on the rise of the next year and a half. For potential home buyers who have been putting off that move for the “perfect time”, you may need to go ahead and convince yourself that the perfect time has come. Home buyers need to consider the impact of the cost of funds as it relates to their buying power."

Thanks to Greg for this insight! As always, please feel free to give me a call if you have any questions about the market or your own home. I am always happy to help!

This is what everyone is looking for in Hillcrest! Charming historic features but great updating as well. It has 4 bedrooms, 2 and a half baths, two large living areas, and a finished third floor which would be a great playroom or office! See more photos and information here!